Filing Flows › SmartStop Self Storage REIT (SMA) › How it makes money
How SmartStop Self Storage REIT (SMA) makes money
SmartStop Self Storage REIT (SMA) made $81.8M of revenue in the third quarter 2026 (Q3 2026), +16% from a year earlier. Self Storage Rental Revenue brought in $65.1M (80%); Reimbursable Costs From Managed Platform brought in $6.9M (8%); Managed Platform Revenue brought in $6.7M (8%). Of every dollar of revenue, 61¢ was left as gross profit, 24¢ was left as operating profit, 11¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Self Storage Rental Revenue | $65.1M | 79.6% | +3% | +5% |
| Reimbursable Costs From Managed Platform | $6.9M | 8.5% | +3% | +247% |
| Managed Platform Revenue | $6.7M | 8.2% | -1% | +74% |
| Ancillary Operating Revenue | $3.1M | 3.8% | +5% | +10% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $81.8M | 100.0% |
| Cost of revenue | $32.3M | 39.5% |
| Gross profit | $49.5M | 60.5% |
| Operating expenses | $29.6M | 36.1% |
| Operating profit | $19.9M | 24.4% |
| Income tax | $773K | 0.9% |
| Net earnings | $9.0M | 11.0% |
| Operating cash flow | $34.9M | 42.7% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $81.8M | +16% |
| Q2 2026 | $79.3M | +19% |
| Q1 2026 | $78.3M | +20% |
| Q4 2025 | $78.4M | +29% |
| Q3 2025 | $70.4M | +17% |
| Q2 2025 | $66.8M | +13% |
| Q1 2025 | $65.4M | +15% |
From SmartStop Self Storage REIT's 10-Q filed Nov 6, 2026 (on EDGAR).
Questions
How does SmartStop Self Storage REIT make money?
SmartStop Self Storage REIT (SMA) made $81.8M of revenue in the third quarter 2026 (Q3 2026), +16% from a year earlier. Self Storage Rental Revenue brought in $65.1M (80%); Reimbursable Costs From Managed Platform brought in $6.9M (8%); Managed Platform Revenue brought in $6.7M (8%). Of every dollar of revenue, 61¢ was left as gross profit, 24¢ was left as operating profit, 11¢ was left as net earnings.
What is SmartStop Self Storage REIT's biggest business?
Self Storage Rental Revenue: $65.1M in the third quarter 2026, 80% of revenue, +5% from a year earlier.
What is SmartStop Self Storage REIT's profit margin?
Net earnings were $9.0M, 11.0% of revenue, in the third quarter 2026; the operating margin was 24.4%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.